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Pessimists point to weakness in the stockmarket, widespread layoffs and falling consumer confidence.
The high price of gas and falling consumer confidence were already forcing many Americans to change their vacation plans.
Others disagreed, saying the price jump was an aberration and falling consumer confidence was more worrisome to Fed policy makers.
Amid the corporate scandals, bankruptcies, rising unemployment and falling consumer confidence, it's a glum time on Wall Street.
One of the sharpest declines is in the Netherlands, which has fallen into a new recession amid rising unemployment and falling consumer confidence.
Some analysts expressed concern that falling consumer confidence and a stubbornly high unemployment rate could eventually hurt demand for new cars.
Similar(22)
Since the crunch, house prices have fallen, consumer confidence has plummeted and prices and unemployment have risen.
Austerity resulted in increases, rather than decreases, in public borrowing; falling consumer and business confidence; and rising unemployment.
Meanwhile, Tuesday brought negative news from the housing sector as a pair of indicators showed that home prices continued to fall, while consumer confidence fell for the sixth straight month.
Unemployment is falling, and consumer confidence is improving.
SHARP falls in consumer confidence have sparked fears that the economy is sliding into another recession.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com